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FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

David Rodriguez



ssi_usd-chf_body_Picture_2.png, FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

USDCAD Retail forex trading crowds have increased their net-long US Dollar (ticker: USDOLLAR) position against the Canadian Dollar, and a contrarian view of crowd sentiment favors USDCAD declines.


Crowd net positioning is now at its most bullish since the pair traded below C$0.9900 in October, and such one-sided sentiment warns that the pair could continue lower.


--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com


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